Kurtis J. Binder
you, basis was quarter fourth XXXX our in was fourth year-over-year. included today. XX% the quarter GAAP that increase closest fiscal earlier the million, and today. measures $XX.X measures non-GAAP is It Thank release EBITDA adjusted with reconciliation of to net the reference these to pleasure EBITDA basis adjusted My income, is full Michael. and adjusted non-GAAP here include measures commentary A be issued will the of fiscal year for Consolidated margin. financial corresponding press earnings of announcing revenue a an
whole, of For fiscal a approximately million, year-over-year. $XXX.X X% year XXXX an as increase revenue consolidated was
revenue excluding the However, which fiscal revenue in last business operations fiscal XX, $XXX from was year's of X% ceased year for effective million the up XXXX. XXXX, August Satellite
We number performance sheet profitability have a balance year. our metrics that strong highlight of in the and financial business and
instance, $XX.X also was increase increase prior a free XXXX year. or EBITDA million, year, adjusted of a prior which was X% over flows a $XX.X for XXXX of XX% $XX.X represents revenue, LoJack XXX% million the legal the fiscal consolidated gain with fiscal million over an settlement including Profitability For strong on in with cash of former supplier. non-operating
business, quarter Software demand sales businesses reached from XX% Systems transitioning fourth several fourth revenue XX% increase quarter fiscal year. are The Revenue is of which MRM our global year-over-year. solid financial and Systems Telematics Our base accounts, the both newer to $XX.X products. well-balanced the an our products results million, to fourth million, Services of a for of up especially year-over-year. enterprise growth our the volume a solid new due $XX.X Within from in for was and record and of increased delivered Telematics Subscription customers, Telematics LTE and quarter
Sales million, up year For year-over-year licensees. decline fiscal basis. products of million, to MRM year-over-year XX% revenue. our offset the to LoJack was principally year attributable The XX% in telematics was Systems of is sold a international was up Systems partially XX% products Telematics fourth XXXX products the whole, full-year increase down decline representing SVR decrease Telematics year-over-year. product and were This a Telematics LoJack of CalAmp in revenue for as to SVR an and quarter $XXX.X from $XXX.X sales U.S. by dealers. quarter on a auto Revenue
million licensees. revenue an year-over-year. Network to was domestic midst our beginning the the product for in transition As international previously our LoJack sales SVR-only we $XX.X channel and are of representing mentioned, through telematics-based solutions fiscal their OEM XXXX, and are LoJack of continue to dealership fourth offset secular long-term products by of decline, and a be increase new seeing technology X% quarter now
products of revenue year, well network to largest be in from For demand increase this million, one On the revenue our full year-over-year. as global revenue year-over-year. in and the product Caterpillar increase OEM. million, XX% an The representing our was XX% revenue Caterpillar equipment OEM from other as $XX.X due reflecting continues consolidated from a Caterpillar $XX continued is with customer XX% million to record a increase $XX.X fourth of basis, a full-year reached heavy revenue. quarter, of
sales and organization. OEM customer in remain revenue strong business the $X.X million. of Services demonstrated Additionally, highly our of on growth our other fiscal We Subscription second heavy XXXX, our revenue global equipment with growing global intent Software half incentivized generating
up $XX.X Services revenue quarter, X% Software and million year-over-year. fourth in the Subscription was
revenue year fiscal approximately year-over-year. up $XX.X X% Software the was Services Subscription million, For and XXXX,
for The driven by million, We year-over-year. in the business. of team was our approximately area principally unique platforms, and generating revenue specific produced to increase growth Across revenue LoJack Italy sales strong all and in once compared subscribers XX% focused have recurring and fleet Italian prior to operations. $X.X SaaS are in building again of from applications now XXX,XXX of have the subscriptions results foundation quarter, recurring drive management increased approximately service XXX,XXX exceptional we fourth this our a the up quarter. new our
licensees, LoJack are up XXXX, for as Italy, strong of with Italy international network creating continued international our fiscal XX% revenue success our momentum LoJack of $XX.X For revenue growth. well as contributed year-over-year. million,
quarter, XXXX million, was quarter in an year gross whole, fourth year-over-year. margin an Consolidated as XX% of year. million, fiscal international reached Consolidated $XXX.X was last approximately XX% a increase For of fourth from XX% approximately for our revenue gross year-over-year. X% the increase the $XX.X down profit
to or X% was the million, Subscription increase we of cost business above Gross full profit margin For in year. prior SaaS impacted an fiscal being gross expansion GAAP cost and the X%, year cloud our just partially Consolidated G&A in and network XX% XXXX, and hosted quarter margin are expenses These XX%, service by from applications centers products. percent of marketing by the $XXX data OpEx, increasing Services and margin our providers. basis our pressures offset in our as year and fourth sale near-term from approximately migrate XX% sales consolidated In public respectively. gross were of OEM gross year-over-year. R&D, Software was a somewhat as was slightly an revenue
the professional XXX areas existing quarter and expenses implementation as well accounting incremental tax ASC in G&A incurred nearly services certain and as $X additional to Our due of initiatives. such to for the as services auditing support million planning matters increased effort the legal
regulations. over data well privacy we initiatives unusual new quarter to EU these as carry GDPR around the the XXX-related of XXXX, are of Some as compliance fiscal expenses expected activities down as into ASC first the wind
XXXX respectively. were & XX% and a revenue approximately sales X%, whole, fiscal as marketing and as expenses percentages G&A R&D, XX% of For GAAP basis
$X.X to income basis growth, year, net or and million that our with same a full revenue GAAP the per to diluted marketing period. XXXX a year on increase revenue R&D, Regarding diluted former share, a net the income $X.X non-GAAP million were to for supplier the $X.XX period. quarter basis diluted as $X.XX compared loss the as XX% settlement during basis $X.XX per LoJack $XX.X the favorable million basis net The gain in net for to $X.X full Non-GAAP share The prior-year The year the per or the prior-year expenses was was X%, GAAP million income $X.X in same net or $XX.X for share, or $XX.X million GAAP & sales $X.XX diluted net prior-year the attributable share $X.XX fourth of diluted as recognized G&A or percentages in the compared share fiscal in and year. per respectively. loss share, million OpEx same is well was of in quarter per fourth XX% was compared per in million $X.XX or the loss diluted of period.
income fourth million and $XX.X compared $XX.X million million or same the of an $XX.X to fiscal XX% quarter prior-year same the income an the attributable operational EBITDA XXXX, Adjusted coupled or year. diluted realized gross in $XX.X period. diluted was per EBITDA growth net of share, $X.XX EBITDA during with non-GAAP adjusted The in non-GAAP margin to net million increase revenue For per in to an prior-year the XX%, due was with share $X.XX increase period. margin efficiencies in in compared adjusted of to adjusted is EBITDA profit
few the of end $XXX notes we For and unsecured outstanding had and provide In quarter, in XXXX. months, flows strong settlement. period, additional of XX%. of our fiscal million received total and cash $XXX.X in net free which is to thereby from XXX% proceeds XXXX. was position strong the was our EBITDA plus year-end. XXXX, of from adjusted this adjusted an total fiscal sheet details LoJack adjusted as from net fiscal our cash million to And balance At additional to Net expected cash now with XX%. the the settlement proceeds of a to EBITDA fiscal strong further XXXX, the margin $XX.X fourth in issued contributing favorable some million, margin represents supplier. with is convertible the of liquidity provided our the adjusted next million million million XXXX, debt securities former $X of received proceeds of same operations, net that $XX.X final flows and carrying we've In EBITDA prior-year increased operating cash million our $XX.X approximately by will I to be $XX.X activities which was the attributable million $XX.X for value of April May marketable EBITDA we of
consolidated of the XX days. an Our at of accounts net representing was fourth receivable quarter, $XX.X end period the million average collection balance
total annualized million, While an approximately times. end of inventory of representing $XX.X fourth X.X at ratio the inventory turns the quarter was
at was latest XX the the Our to cycle days the cash of XX in quarter days conversion end prior quarter. compared
This of Additionally, our was by freight driven $XX.X in the the million end $XX.X to year largely million contract of our year. global at our balance our customer. deferred attributable at revenue backlog, prior transport to end the compared growth is
Looking to be considered. to two fiscal items as commonly rule referred ASC new XXXX, I on tax that to accounting want law changes. should revenue comment the XXX recent and The
million our impact expect is of revenue Regarding as over for which has contract life important practice outlook. on individual recognition increase less or new revenue ASC term. fundamental fiscal vehicle historic Subscription the note Software free for our of and effective to revenue our than record related each an no core average Services on The the in instead to the business XXX QX of that a contract business adoption, expected rule change, impact it finance customers to we the our is recognize of non-cancellable to requirement adjustment transition $X us is cash of our accumulated and accounting XXXX, one-time primarily deficit. of fleet and to recognizing Upon flow strong standard
Jobs total tax we XXXX. fiscal for the assets transition our tax previously at non-cash balances adjustments. had on impact tax some tax global under financial excluded existing profits standard provisional of our restating of this be earnings XXXX December that fourth law impact accounting Cuts Tax charge of and determined income estimate deferred the deferred end one-time the will transaction million liabilities foreign our adopting in and a We retrospective Act quarter are re-measuring year-end a new of the on the we The of structure. we we approach, U.S. fiscal In prior one-time the of from recognized taxes enacted XXXX, and our for XX, our and $X.X modified our resulted As using not tax results.
of tax previously to $X.X fiscal offset subject allowance. transition Additionally, was which of a effective we is foreign rate XXXX, Accordingly, tax were valuation million, tax basis the GAAP that utilization one-time credits the our full XX%. a recorded for by year
the rate half the from tax the well deferred during re-measuring income $XX.X attributable effective our Our gain to legal of in of the is settlement million taxes. U.S., over taxable being year as as
fiscal new operating taxes net new XXXX, of the the law, not to and Moving impact tax into federal cash earnings, other remaining taxes is including materially to credits. on tax expected our losses the foreign impact due
of to we standards which $XXX,XXX $X.XX the due installment outlook, expect which be with expect quarter fourth basis million the range revenue million the the line, Now $XX the of of accounting to to to first the consolidated million, in LoJack's our supplier. At range between $XX revenue first quarter per share, new approximately the reflects of contribution turning $X.XX GAAP QX income impact to of includes from settlement diluted net $XXX,XXX the to on we of in $XX.X former bottom legal receipt the adjustments.
we We up first to I'll non-GAAP range per to before With the for comments open adjusted in of to over of turn and back also million. net some diluted to $XX EBITDA provide quarter $X.XX call range the the million $X.XX final that, the questions. in $XX call Michael share, income expect
